Reply to U.S. Annual Inflation rose to 6.8% in November

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Reply to "U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=jsteele]Before anyone panics, take a look at the release:

https://www.bls.gov/news.release/pdf/cpi.pdf

In particular, look at the chart at the bottom of page one. While inflation is increasing, it is trending down.

In October it was 0.9, in November it as 0.8, and in December it was 0.5. If this trend continues, we will get down to normal levels in a couple of months.
[/quote]

Lol, again with the terrible takes  Here is your prediction from this thread on 12/30 at 21:51 that the CPI print would go *down* this month from the 6.8% reading last month:

"Gas prices have gone down so inflation will likely be lower."

Instead, it went up, which was obvious because the monthly CPI print of 0.2% from December 2020 was virtually certain to be replaced by a December 2021 number that was higher than 0.2%.  (Indeed, not a single monthly print in all of 2021 came in as low as 0.2%.)

If you were just a Democrat hack, it would be one thing.  Unfortunately, like all leftists, you also buy into the censoring and totalitarian worldview so you make this site far less valuable that it could be.[/quote]

We have not had any inflation in 30 years.  I’m guessing most of you were not adults during the Reagan administration.  I got out of college into a terrible economy and had two crummy jobs for a year and a half until I got a career position.   I knew several college graduates who enlisted in the military just to have a job.  I managed to buy a house at 24 when mortgage rates were 17%.  I got a mortgage through VHDA as low income for 10.42%.  No one ever mentions St Reagan’s terrible inflation.  Right now we have the best job market in forty years.  At $81k right out of college my kid can afford to pay 6% more for food.  Gas was $1.10 per gallon when I earned $18 k per year.   Thanks Ron. [/quote]

Wrong. Because inflation is more than just food - its rent. And rent has gone up 25% in various parts of the country.

In a HCOL city like D.C. - a junior one bedroom or studio is now $2,000+/month. $2K is $24,000 a year spent on rent. So really your kid's $81K job, minus $15K in taxes and $24K in rent, is now $42K a year to live on. Not bad but for most people the rest of that is eaten up by things like food (shocker), student loans, utilities, etc.

Unless your college-grad is living with you. [b]Is your kid in your basement?[/b]

[twitter]https://twitter.com/AP/status/1481332969944059907[/twitter][/quote]

Nice attempt at insult.  I don't have a basement.   :lol:  He does have a childhood friend who still lives at home but their house is 4,000 square ft. and the friend will be buying his own home pretty soon.  His friend is class of 2020 and is shoveling money into savings.   My son is in a 2/2 960 sq. ft. apartment in Clarendon and not a high rise.  It does have laundry in the unit which seems to be rare, and has covered parking. He's 1.2 miles from his job, which is remote anyway.  He has a roommate who is a friend from college and not random, $12k in savings, and no student loans, and his car is paid for.  He could afford $1600/month he figured, but he's paying $1050 and aggressively saving.  So the apartment is $2200.  It's a deal in the area.  I do know rents have gone up a lot, but he'll be paying about $12,600 in rent, not the $24k you think.  [/quote]

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